Maven has opened a new office in Middlesbrough, further extending its footprint across the UK. Located in the city's Boho Zone, the digital, creative, and business hub of the Tees Valley, the new location will serve as a central point for Maven’s deal activity across Teesside and reaffirms Maven's continued commitment to the North East.
The Financial Times’ European Cities and Regions of the Future report in February named Middlesbrough as the sixth best ‘small city’ for its foreign direct investment strategy, demonstrating its strong potential for economic growth and sustained innovation.
Earlier this year Maven was appointed equity fund manager in the North East for the Northern Powerhouse Investment Fund II. The opening of our Middlesborough office, alongside existing premises in Newcastle and Durham, will help support the deployment of an additional £50 million of funding in the region to ambitious, growth-focused businesses.
Maven has also joined the Tees Valley Business Club to connect more closely with local businesses. Having invested over £50 million in more than 40 companies across the region in recent years, creating over 1200 jobs as a result, Maven has already partnered with many innovative North East businesses to help them grow further and faster.
As part of the expansion into Middlesborough, Maven will be embarking on a recruitment drive to expand its investment team and identify more local businesses with high potential.
"With our great track record in the North East region, along with the business opportunities and economic potential present in Middlesbrough, it was clear that establishing an office presence here was the logical next step. We are excited to continue investing in this region and unlock additional opportunities for innovative and ambitious companies."
Michael Vassallo, Investment Partner at Maven
"The new Middlesborough office is a demonstration of Maven’s commitment to have a real presence in the Tees Valley as they continue to provide investment to support local business in the region to achieve their growth ambitions.
"With NPIF II now covering the whole of the North East, the expansion will leverage opportunities for the Northern Powerhouse Investment Fund II, helping to better identify and support high-potential businesses in the region."Simon Cunnington, Director at British Business Bank
As Fund Manager of NPIF II - Maven Equity Finance, Maven can provide investment up to £5 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is looking at equity investment as a solution to fund future growth please click here.